Safe and Sound

WARD

Philadelphia, PA
NR
Star Rating
WARD is an NCUA-insured credit union founded in 1969 and currently based in Philadelphia, PA. The credit union has assets of $99,713, according to December 31, 2017, regulatory filings.

WARD's 146 members currently have $91,953 in shares with the credit union. With that footprint, the credit union holds loans and leases worth $45,919.

Overall, Bankrate did not have enough information on this institution to give it a star rating. Keep reading for an analysis of how the credit union did on the three key criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial stability, capital is crucial. It works as a cushion against losses and affords protection for members when a credit union is struggling financially. When it comes to safety and soundness, the more capital, the better.

On our test to measure the adequacy of a credit union's capital, WARD received a score of 6 out of a possible 30 points, lower than the national average of 15.65.

WARD had a capitalization ratio of 6.00 percent in our test, less than the average for all credit unions, an indication that it's less well prepared for financial trouble than its peers.

Asset Quality Score

This test is intended to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as past-due loans.

Having extensive holdings of these types of assets suggests a credit union may eventually have to use capital to cover losses, reducing its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, pushing down earnings and elevating the chances of a future failure.

WARD scored 0 out of a possible 40 points on Bankrate's asset quality test, coming in below the national average of 38.09.

WARD's ratio of problem assets was 1.00 percent in our test, the same as the national average.

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. Earnings can be retained by the credit union, expanding its capital cushion, or be used to deal with problematic loans, likely making the credit union better prepared to withstand financial trouble. Credit unions that are losing money, however, are less able to do those things.

WARD fell behind the national average on Bankrate's test of earnings, achieving a score of 0 out of a possible 30.

One sign that WARD is beating its peers in this area was its earnings ratio of 0.00 percent in our test, higher than the average for all credit unions.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.